Ag Plus meets producers' grain marketing needs by providing access to end user markets, competitive bids and pricing programs. Our experienced team provides competitive prices, transportation needs, drying and storage service, and we take pride in unloading grain quickly during the high-volume harvest season so your operation doesn't experience bottlenecks. If you have any questions feel free to contact Dave or Laura for your grain marketing needs.
Wednesday, November 14th, 2018
Very quiet day on the news front for the grain markets. Traders are looking at better weather coming across the midwest for harvest to finish up. South American has seen timely rains to help crop conditions in Brazil and heavy rains that will slow planting in Argentina. Traders talked today that with the excellent planting progress and crop development, Mato Grosso should have early bean harvest and be planting corn for the Saffrinha double crop under ideal conditions. USDA announced the sale of 212,000 MT of corn to Mexico and 148,000 MT of beans to unknown for 18/19 marketing year. Weekly fuel inventory will be released tomorrow. Export sales will be released on Friday. Traders just seem content to wait and see if anything comes from the G-20 summit and the trade talks with China. In the interim, China is talking Russia about grain imports. The dollar was lower today breaking back below 97 to 96.710, down 429 points. Gold was strong today trading up $10.80, silver was up 138 at $14.115. Crude oil turned higher for the first time in 13 days, trading up 56 cents at $56.25. Stocks are lower on concerns of a world slowdown. Dow futures are down 265, Nasdaq is down 74, and S & P is down 24.
Support on December corn is at $3.64-3/4 and $3.60 and resistance was $3.75 and $3.80. Support on January beans is at $8.67-1/4 and $8.50 and resistance is at $8.90 and $9.00-3/4. Support on December wheat is at $5.00 and $4.90 and resistance is at $5.26-1/2 and $5.30-1/2.